What’s in the Debt-Limit Deal?

Finally, an answer.

Senate Minority Leader Mitch McConnell (R-KY) arrives at the U.S. Capitol October 16, 2013 in Washington, DC.
National Journal
Brian Resnick
Add to Briefcase
Brian Resnick
Oct. 16, 2013, 1:40 p.m.

Here they are, the stip­u­la­tions of the le­gis­la­tion that will re­open the gov­ern­ment after 16 days of back-and-forth ef­forts that went nowhere, Re­pub­lic­an in­fight­ing, hy­per­bole, and al­co­hol.

Here’s what we know Re­pub­lic­an and Demo­crat­ic sen­at­ors have agreed to:

  • Re­open the gov­ern­ment, and fund it through Jan. 15.
  • Push back the debt ceil­ing un­til Feb. 7.
  • Con­vene a con­fer­ence com­mit­tee (led by Sen­ate Budge Com­mit­tee Chair­wo­man Patty Mur­ray, D-Wash., and House Budget Com­mit­tee Chair­man Paul Ry­an, R-Wis.) to shape a longer-term budget (does this sound fa­mil­i­ar?) that would ad­dress wheth­er se­quester-level spend­ing cuts will be here to stay.
  • In a small con­ces­sion — and the only change to the health care law — Demo­crats agreed to a meas­ure to en­sure those who re­ceive sub­sidies to buy health care meet eli­gib­il­ity re­quire­ments. White House spokes­per­son Jay Car­ney as­sures that this does not amount to “ransom” and main­tains the pres­id­ent’s line that he would not ne­go­ti­ate over the debt ceil­ing.
  • Give back pay to fed­er­al work­ers fur­loughed dur­ing the shut­down.

So how have things changed in the past 16 days?

  • The gov­ern­ment has wasted mil­lions of dol­lars pay­ing its work­ers for not work­ing. 
  • S&P es­tim­ates that the shut­down de­creased GDP growth by .6 per­cent, amount­ing to $24-bil­lion bite out of the eco­nomy.
  • It will now be slightly more dif­fi­cult to scam the gov­ern­ment for health care sub­sidies.
  • A ma­jor cred­it-eval­u­ation agency has threatened to down­grade the U.S. cred­it rat­ing.
  • The GOP’s fa­vor­ab­il­ity rat­ings plummeted to a re­cord low for any party.
  • Just 5 per­cent of Amer­ic­ans thought Con­gress was do­ing a good job.
  • The tea party is as un­pop­u­lar as ever.
  • Fur­loughed work­ers drank a bunch.
What We're Following See More »
DEFERENCE TO PRESIDENT
More Republicans Trust Trump than GOP Members
32 minutes ago
WHY WE CARE
PAC WILL TARGET INCUMBENTS
Sanders Acolytes Taking the Movement Local
2 hours ago
WHY WE CARE

"While Democrats nationwide have put the focus on President Trump, the Sanders wing of the party has engaged in an intramural fight to remake the party in a more populist, liberal mold." From Washington state to California to Florida, Sanders loyalists are making good on their promise to remake the party from the ground up. And just last week, a "group of former Sanders campaign aides launched a super PAC with the explicit goal of mounting primary challenges to Democratic incumbents."

Source:
THANKS TO MILITARY ROLE
McMaster Requires Congressional Approval
3 hours ago
THE DETAILS

Congress will need to vote on Donald Trump's pick of Lt. General H.R. McMaster to be his next national security adviser, but not for the reason you think. The position of NSA doesn't require Senate approval, but since McMaster currently holds a three-star military position, Congress will need to vote to allow him to keep his position instead of forcing him to drop one star and become a Major General, which could potentially affect his pension.

Source:
THE QUESTION
How Many Signatures Has the Petition for Trump’s Tax Returns Received?
7 hours ago
THE ANSWER

More than 1 million, setting a record. More than 100,000 signatures triggers an official White House response.

Source:
SENT LETTERS TO A DOZEN ORGANIZATIONS
Senate Intel Looks to Preserve Records of Russian Interference
7 hours ago
THE LATEST

"The Senate Intelligence Committee is seeking to ensure that records related to Russia’s alleged intervention in the 2016 U.S. elections are preserved as it begins investigating that country’s ties to the Trump team. The panel sent more than a dozen letters to 'organizations, agencies and officials' on Friday, asking them to preserve materials related to the congressional investigation, according to a Senate aide, who was not authorized to comment publicly. The Senate Intelligence Committee is spearheading the most comprehensive probe on Capitol Hill of Russia’s alleged activities in the elections."

Source:
×
×

Welcome to National Journal!

You are currently accessing National Journal from IP access. Please login to access this feature. If you have any questions, please contact your Dedicated Advisor.

Login